The reason is that the commercial broadcaster faces three significant strategic decisions - and ITV's board sensibly concluded that it would be inappropriate for those decisions to be taken by Grade more-or-less alone and then bequeathed to a new chief executive.
Better to appoint a successor, before the end of this year, to set the direction of the business which he or she would then have to travel.
Interestingly Peston spoke to Grade earlier today and he told him that
market conditions were tougher than they've ever been since ITV was founded more than 50 years ago. Which is particularly galling for him, in view of progress in improving programmes, reaching more viewers and in removing shackles imposed by regulators.
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